FXStreet — The GBP/USD could from its initial losses below 1,2900 recover, and so the trade is only at a slight loss to 1,2925-30 instead, after the UK construction PMI was released.
The Pair remains in its previous days range and it is missing on Wednesday in a clear direction. The better-than-expected UK construction PMI has not led to an Expansion of the recent gains.
The UK construction PMI for April is at 53.1, 52.2 in March, while the forecast was at 52.0.
Prior to the Fed announcement on monetary policy, it is still the US ADP labour market report and the ISM non-manufacturing PMI , which for a short-term pulse.
Resistances lie at 1,2950 and the psych. Level of 1.30. On the other hand, supports are located at 1,2885, 1,2865/60 (yesterday’s Low), 1,2835 and 1,2800.
• GBP/USD remains short term bullish
** FXStreet News Editorial, FXStreet**
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